Amazon has recently announced it is now entering the blockchain technology fray, joining a growing group of blockchain-embracing software giants which already include Microsoft and Oracle. Specifically, Amazon Web Services (AWS) is making the Amazon Managed Blockchain (AMB) available to the public.
Amazon Web Services releases Amazon Managed Blockchain
This news came in an announcement from Amazon Web Services on April 30th. Notably, Amazon Web Services is Amazon’s cloud computing division and is only growing in importance for the retail behemoth. In fact, AWS has been described as ”crucial to the success of [Amazon], not only for revenue but also for profits.”
As such, it is perhaps not all too surprising to see that AWS is spearheading blockchain technology adoption in a bid to retain its competitiveness. What’s more, AWS has been exploring blockchain-related applications internally for a long time.
Amazon Managed Blockchain is a blockchain-as-a-service, and is geared towards helping customers to manage and create blockchain networks within their organizations.
In addition to this, Amazon Managed Blockchain is said to be utilizing ”popular open source frameworks” such as Hyperledger Fabric and, soon, Ethereum.
Amazon notes that creating a blockchain network is oftentimes a complex and time-consuming task, which discourages some customers from exploring the technology. AMB will, instead, supposedly give businesses the option to deploy blockchain networks at a lower cost and more quickly than developing them from scratch.
AMB aims to make blockchain technology more readily available to businesses and customers
Moreover, Amazon is suggesting that AMB has also been developed in order to be highly scalable, with Amazon claiming that AMB can scale to support thousands or even millions of different transactions.
The General Manager for Amazon Managed Blockchain at AWS, Rahul Pathak, also went on to summarize the advantages associated with AMB:
”Amazon Managed Blockchain takes care of provisioning nodes, setting up the network, managing certificates and security, and scaling the network. Customers can now get a functioning blockchain network set up quickly and easily, so they can focus on application development instead of keeping a blockchain network up and running.”
Moreover, a series of major firms are said to be already employing the product. The major US telecommunications firm AT&T, the food and beverage behemoth Nestlé, the Asian investment holding company Singapore Exchange Limited and the multinational IT company Accenture are just some of the well-known companies mentioned in AWS’ communique.
Amazon Web Services is described as ”the world’s most comprehensive and broadly adopted cloud platform”. As such, the release of Amazon Managed Blockchain through AWS is significant, as it could potentially dramatically boost the general usage of blockchain technology.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.